CAVA Group’s (CAVA) “Outperform” Rating Reaffirmed at William Blair

CAVA Group (NYSE:CAVA)‘s stock had its “outperform” rating reaffirmed by William Blair in a research report issued to clients and investors on Wednesday,RTT News reports.

A number of other analysts have also issued reports on the company. Barclays lowered their price target on CAVA Group from $127.00 to $104.00 and set an “equal weight” rating for the company in a report on Wednesday. Sanford C. Bernstein initiated coverage on shares of CAVA Group in a research report on Wednesday, November 20th. They set a “market perform” rating and a $145.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of CAVA Group from $90.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. TD Cowen lifted their target price on shares of CAVA Group from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Robert W. Baird raised their price objective on CAVA Group from $125.00 to $148.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.40.

CAVA Group Stock Performance

Shares of CAVA Group stock traded down $0.17 on Wednesday, reaching $99.13. 5,274,809 shares of the company’s stock were exchanged, compared to its average volume of 2,438,382. The firm’s 50-day moving average is $122.12 and its two-hundred day moving average is $125.97. CAVA Group has a 52 week low of $52.81 and a 52 week high of $172.43. The company has a market capitalization of $11.36 billion, a P/E ratio of 215.52 and a beta of 3.25.

CAVA Group (NYSE:CAVA) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). CAVA Group had a return on equity of 9.10% and a net margin of 5.88%. The firm had revenue of $227.40 million during the quarter, compared to analysts’ expectations of $223.34 million. On average, analysts expect that CAVA Group will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ronald M. Shaich sold 622,549 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $149.40, for a total transaction of $93,008,820.60. Following the completion of the transaction, the director now owns 6,307 shares in the company, valued at $942,265.80. This trade represents a 99.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Adam David Phillips sold 615 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $124.39, for a total transaction of $76,499.85. Following the completion of the transaction, the chief accounting officer now directly owns 10,884 shares of the company’s stock, valued at approximately $1,353,860.76. This represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 651,784 shares of company stock worth $96,522,922. 12.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CAVA. Arcadia Investment Management Corp MI bought a new position in shares of CAVA Group during the 4th quarter worth approximately $25,000. Allworth Financial LP grew its position in CAVA Group by 369.2% in the 4th quarter. Allworth Financial LP now owns 244 shares of the company’s stock worth $30,000 after purchasing an additional 192 shares during the period. Larson Financial Group LLC grew its stake in shares of CAVA Group by 274.0% during the 4th quarter. Larson Financial Group LLC now owns 273 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares during the period. Whittier Trust Co. increased its position in CAVA Group by 80.9% in the fourth quarter. Whittier Trust Co. now owns 284 shares of the company’s stock worth $32,000 after buying an additional 127 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of CAVA Group by 884.4% during the fourth quarter. Signaturefd LLC now owns 315 shares of the company’s stock valued at $36,000 after buying an additional 283 shares during the last quarter. 73.15% of the stock is owned by institutional investors.

CAVA Group Company Profile

CAVA Group, Inc owns and operates a chain of restaurants under the CAVA brand in the United States. The company also offers dips, spreads, and dressings through grocery stores. In addition, the company provides online and mobile ordering platforms. Cava Group, Inc was founded in 2006 and is headquartered in Washington, the District of Columbia.